September 2001 (August data)

September 2001 (August data)

For immediate release: September 11, 2001

DOLLAR SLIPS IN AUGUST

In August the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta fell 1.4 percent. Declines were registered on all subindexes except the Americas measure, which rose a modest 0.4 percent. The European subindex registered the largest decline at 3.8 percent. The classic subindex, which is the analogue of the original Atlanta index, was down 1.6 percent. The overall index in August was 4.8 percent higher than its year-ago level. On a daily basis, the overall index's level at the end of August was 1.4 percent below its reading at the end of July but was 4.4 percent above its level at the end of August 2000.

The Atlanta Fed index is based on 199597 bilateral trade weights for 15 currencies. The European subindex includes the European Monetary Union, Switzerland and the United Kingdom. The Pacific subindex includes Australia, China, Hong Kong, Japan, Malaysia, Singapore, South Korea and Taiwan. The Americas subindex includes Brazil, Canada and Mexico. The overall dollar index includes the Saudi Arabian riyal along with the foregoing 14 currencies. The classic subindex includes the European Monetary Union, Switzerland, the United Kingdom, Australia, China, Hong Kong, Japan, Singapore, South Korea, Taiwan, Saudi Arabia and Canada. All figures are indexes and not actual exchange rates. A rise in the index or subindex reflects a strengthening of the dollar against currencies included.